EU pork production forecast to decline
EU pork production is expected to decline by around 3 to 4% this year, according to the latest quarterly pork report from Rabobank.
EU pork production fell by 5% between January and October 2022, with most countries suffering declines, albeit to varying degrees. In October 2022, production was down by 10% in Germany, 9% in Poland, 5% in Denmark, 2% in Spain, 2% in France and 0.5% in the Netherlands.
In contrast, production in the UK was up 2% in the year to October due to higher carcase weights resulting from the backlog.
EU pork exports declined by 18% in the year to October, with volumes to China down by 43% in the year to date, despite slowed a small rebound in the second half of the year. However, the figures suggest that volumes exported to other destinations decreased as China volumes recovered.
Rabobank predicts that in the first quarter of 2023, exports from the EU and UK to China will decrease relative to the end of 2022, as Chinese demand is forecast to soften in response to a surge in domestic production, combined with reduced consumption after a wave of Covid.
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